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Tax reform:

  • The proposal includes: (i) Restructure income tax system; (ii) Reducing tax exemptions; (iii) Mining royalty, and (iv) Corrective taxes.
  • The government expects to collect 3.6% of GDP with this reform to fund social expenditure.

Pension reform

  • Not-contributivepillar: Guaranteed Universal Pension (PGU) M$250 (USD$280). Contributive pillar: 10,5% from employees and 6% from employers
  • Public agency will play the operational role (ISP). Public and private investment management companies will compete for AUM.

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Banco Santander-Chile published this content on 10 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 08:09:11 UTC.